View Full Version : new cooling measures effective 8dec 2011
foreigners buying 1st home 13% stamp duty upfront.
PR 2nd home 6% stamp duty upfront.
singaporean 3rd home 6% stamp duty upfront..
yeeeehaaa...time to celebrate.:eek: :eek: :doh:
foreigners buying 1st home 13% stamp duty upfront.
PR 2nd home 6% stamp duty upfront.
singaporean 3rd home 6% stamp duty upfront..
yeeeehaaa...time to celebrate.:eek: :eek: :doh:
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press+Release&year=2011&RA1&RA2&RA3
foreigners buying 1st home 13% stamp duty upfront.
PR 2nd home 6% stamp duty upfront.
singaporean 3rd home 6% stamp duty upfront..
yeeeehaaa...time to celebrate.:eek: :eek: :doh:
figures could b wrong..sorry!
D-day for condos. A lot of recent launches (or those going to be launched) should be stuck in a limbo.
The Singaporean part is easy to overcome...
a) Foreigners and non-individuals[1] (http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press+Release&year=2011&RA1&RA2&RA3#_ftn1) (corporate entities) buying any residential property will pay an ABSD of 10%;
b) Permanent Residents (PRs) owning one[2] (http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press+Release&year=2011&RA1&RA2&RA3#_ftn2) and buying the second and subsequent residential property will pay an ABSD of 3%; and
c) Singapore Citizens (Singaporeans) owning two2 and buying the third and subsequent residential property will pay an ABSD of 3%. But if you have wife, mother, father, grandpa or grandma, it shouldn't be an issue.
u waiting to buy 2nd ppty?
SINGAPORE: The government has imposed an additional buyer's stamp duty for private property of between 3 per cent and 10 per cent for Singaporeans, Permanent Residents and foreigners from December 8.
Foreigners will pay 10 per cent Additional Buyer's Stamp Duty (ABSD) for any residential property.
Permanent Residents owning one and buying second and subsequent properties will pay 3 per cent ABSD.
Singaporeans owning two and buying third and subsequent residential properties will pay 3 per cent Additional Buyer's Stamp Duty.
- CNA/de
Comments? :)
The Singaporean part is easy to overcome...
a) Foreigners and non-individuals[1] (http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press+Release&year=2011&RA1&RA2&RA3#_ftn1)(corporate entities) buying any residential property will pay an ABSD of 10%;
b) Permanent Residents (PRs) owning one[2] (http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press+Release&year=2011&RA1&RA2&RA3#_ftn2) and buying the second and subsequent residential property will pay an ABSD of 3%; and
c) Singapore Citizens (Singaporeans) owning two2 and buying the third and subsequent residential property will pay an ABSD of 3%. But if you have wife, mother, father, grandpa or grandma, it shouldn't be an issue.
unless u are filty cash rich..
how is the bank gona grant yr grandpa n grandma loan unless they r still working? :rolleyes:
put my monies elsewhere...
kill the market, especially the foreign buyers
unless u are filty cash rich..
how is the bank gona grant yr grandpa n grandma loan unless they r still working? :rolleyes:
Some grandma and grandpa are very rich. Mine are already in another world many years ago or could have re-borned by now...
SINGAPORE: The government has imposed an additional buyer's stamp duty for private property of between 3 per cent and 10 per cent for Singaporeans, Permanent Residents and foreigners from December 8.
Foreigners will pay 10 per cent Additional Buyer's Stamp Duty (ABSD) for any residential property.
Permanent Residents owning one and buying second and subsequent properties will pay 3 per cent ABSD.
Singaporeans owning two and buying third and subsequent residential properties will pay 3 per cent Additional Buyer's Stamp Duty.
- CNA/de
Comments? :)
You should start shopping soon. I think developers' knees will tremble at this.
Huh? Wasn't the market very cool? Archipelago already having slow sales, only BR was hot. Capitaland must regret not being able to launch before these new measures.
I am a bear and was looking for softening... but hey with lower volume, stablised prices and uncertainties ahead, isn't that a bit too aggressive?
Queue queue queue now queue until got problem liao
i doubt mass market will be affected
and developer would be in the loop
anyway, these cooling measures will impact the resale market
although the foreigners have the cash to pay for upfront, it is a signal to all to slow down.
entry barrier to those borderline foreign buyers.
i thought ssd will be relaxed...looks like there will be more
have to really read hard the minister's statements - read between the lines
need to get another pair of more powerful specs LOL
Huh? Wasn't the market very cool? Archipelago already having slow sales, only BR was hot. Capitaland must regret not being able to launch before these new measures.
Ok la, bedok one alrdy launched. Alot units sold right? Lol
Oh no! There goes my shopping! :doh:
Majority PRs hardly into 2nd property ...from conversations with colleagues.
they find singapore too expensive compared to their home country's
no impact for PRs as there's no intention...my take
6% of $1 milllion = $60,000 can buy COE and nice renovations
Central banks have just recently printed trillions of fiat currencies to save the Euro. Rich foreigners looking at protecting their wealth are heading here. Our govt is collecting protection money from them.
SINGAPORE: The government has imposed an additional buyer's stamp duty for private property of between 3 per cent and 10 per cent for Singaporeans, Permanent Residents and foreigners from December 8.
Foreigners will pay 10 per cent Additional Buyer's Stamp Duty (ABSD) for any residential property.
Permanent Residents owning one and buying second and subsequent properties will pay 3 per cent ABSD.
Singaporeans owning two and buying third and subsequent residential properties will pay 3 per cent Additional Buyer's Stamp Duty.
- CNA/de
Comments? :)
Good call to cool down long queues in developer launches where demand may not genuine
i doubt mass market will be affected
and developer would be in the loop
anyway, these cooling measures will impact the resale market
although the foreigners have the cash to pay for upfront, it is a signal to all to slow down.
entry barrier to those borderline foreign buyers.
i thought ssd will be relaxed...looks like there will be more
have to really read hard the minister's statements - read between the lines
need to get another pair of more powerful specs LOL
Two very impactful cooling measures this year. It is sending a clear signal to foreign investors that they are not welcome to speculate in local properties or park their money in local properties and inflate prices.
Mr Basic could be right afterall...
Option granted by tonight is still safe though.
"For purchases made jointly by two or more parties (e.g. a Singaporean with a PR, or a PR with a foreigner), the higher applicable ABSD rate will be imposed. For example, if a citizen purchases a property with a foreigner, the ABSD of 10% will apply. In the case of a joint purchase by Singaporeans, who each already owns properties, the ABSD of 3% will apply as long as one of the purchasers already owns two properties."
sg-pr couple who own 1 home, looking to buy another, without disposing first also kenna... no 50% tax discount for this type case :D
Crappyland's bishan condo is doomed. The 1+study can sell me for 600k :D
Must be the Q at BR that caused this
Two very impactful cooling measures this year. It is sending a clear signal to foreign investors that they are not welcome to speculate in local properties or park their money in local properties and inflate prices.
Additional Buyer's Stamp Duty (ABSD), sounds more like Anti-locking Brake System Duty. Sales on brakes, those taking baby steps into ppty exempted. :cheers2:
Must be the Q at BR that caused this
Stupid crappyland spoil market...:tsk-tsk:
Two very impactful cooling measures this year. It is sending a clear signal to foreign investors that they are not welcome to speculate in local properties or park their money in local properties and inflate prices.
"Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister for Finance, said, “We have always had open markets and must keep them that way. However, the reality is that investment flows into our property market are now larger than before, and unlikely to recede as long as interest rates remain low."
Not sure it is about speculation but rather where to park the money to keep it's value in line with inflation. I take this as a good sign that S'pore properties is rated AAA
"For purchases made jointly by two or more parties (e.g. a Singaporean with a PR, or a PR with a foreigner), the higher applicable ABSD rate will be imposed. For example, if a citizen purchases a property with a foreigner, the ABSD of 10% will apply. In the case of a joint purchase by Singaporeans, who each already owns properties, the ABSD of 3% will apply as long as one of the purchasers already owns two properties."
sg-pr couple who own 1 home, looking to buy another, without disposing first also kenna... no 50% tax discount for this type case :D
Divorce first then buy, then re-marry again on the next day :D
Divorce first then buy, then re-marry again on the next day :D
singles pls choose wisely... more benefit for sg to marry sg :D
"Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister for Finance, said, “We have always had open markets and must keep them that way. However, the reality is that investment flows into our property market are now larger than before, and unlikely to recede as long as interest rates remain low."
Not sure it is about speculation but rather where to park the money to keep it's value in line with inflation. I take this as a good sign that S'pore properties is rated AAA
console myself... interest rates remain low... :o
Maybe some developers will give % discount or furniture voucher to cushion this additional for citizen and PR owning more than 1 property..
buttercarp
07-12-11, 19:56
PR-SG couple own 1 property.
Then SG spouse buy 2nd property, how?
Will kena extra ABSD?
PR-SG couple own 1 property.
Then SG spouse buy 2nd property, how?
Will kena extra ABSD?
yes, the higher ABSD applies.
buttercarp
07-12-11, 19:58
I think those strata semiD doomed liao.
buttercarp
07-12-11, 19:59
Additional Buyer's Stamp Duty
yes, the higher ABSD applies.
Even if 2nd property is only under SG spouse name?
PR-SG couple own 1 property.
Then SG spouse buy 2nd property, how?
Will kena extra ABSD?
if SG spouse buy alone, then no kenna... but if buy jointly with PR, then kenna
my analysis
1. The 3% is not that stiff for the PR and SC, the sellers or developers can absord that easily
2. foreign interest will definitely drop.
3. market will be very quite.....property agents...jobless...
So, next, where will the China buyers go to now? A place with growth, and not much of taxes. My guess
1. London Prime (zone 1)
2. US prime (SF Bay and NY)
For Asia, where the money goes to...I think should be Malaysia...the only cooling measure is the capital gain up by another 5% this year....and the prices are still so cheap...
My Malaysia property tour starts tomorrow....
Even if 2nd property is only under SG spouse name?
For purchases made jointly by two or more parties (e.g. a Singaporean with a PR, or a PR with a foreigner), the higher applicable ABSD rate will be imposed. For example, if a citizen purchases a property with a foreigner, the ABSD of 10% will apply. In the case of a joint purchase by Singaporeans, who each already owns properties, the ABSD of 3% will apply as long as one of the purchasers already owns two properties.
my analysis
1. The 3% is not that stiff for the PR and SC, the sellers or developers can absord that easily
2. foreign interest will definitely drop.
3. market will be very quite.....property agents...jobless...
So, next, where will the China buyers go to now? A place with growth, and not much of taxes. My guess
1. London Prime (zone 1)
2. US prime (SF Bay and NY)
For Asia, where the money goes to...I think should be Malaysia...the only cooling measure is the capital gain up by another 5% this year....and the prices are still so cheap...
My Malaysia property tour starts tomorrow....
i wonder will developers start directly or indirectly give foreigners slightly more discount then locals ?
if SG spouse buy alone, then no kenna... but if buy jointly with PR, then kennaSo a SG couple can still own 4 properties, 2 each under single owner. :D :p
buttercarp
07-12-11, 20:06
For purchases made jointly by two or more parties (e.g. a Singaporean with a PR, or a PR with a foreigner), the higher applicable ABSD rate will be imposed. For example, if a citizen purchases a property with a foreigner, the ABSD of 10% will apply. In the case of a joint purchase by Singaporeans, who each already owns properties, the ABSD of 3% will apply as long as one of the purchasers already owns two properties.
So a SG couple can still own 4 properties, 2 each under single owner. :D:p
Hi august, is GSLJ correct?
So a SG couple can still own 4 properties, 2 each under single owner. :D :p
how i wish i can utilize the quota :D
phantom_opera
07-12-11, 20:10
Agree with Laguna, developers can easily absorb 3% for 3rd purchase of SC or 2nd purchase of SPR and to my knowledge, many SPRs are renting actually without owning anything
This new measure is to kill foreign buyers ... of course will affect resale market, 10% downside is likely
Two very impactful cooling measures this year. It is sending a clear signal to foreign investors that they are not welcome to speculate in local properties or park their money in local properties and inflate prices.
right on bull's eye...lessons learnt from dubai crisis when foreigners just pack and run, abandoning the properties and also cars
tenants just fled the condos and forget about collecting rent
thousands of cars were left at the airport car park, unlocked with keys inside
one suggestion that can protect us..one year rental upfront..cant recall which country in asia
government should set that as cooling measure
So a SG couple can still own 4 properties, 2 each under single owner. :D :p
ya, ur right
Must be the Q at BR that caused this
No. It's always in the plan if more than usual capital flows into property. The Q at BR just push the button for the garment;-)
Hi august, is GSLJ correct?
yes, correct.
buttercarp
07-12-11, 20:16
yes, correct.
Thanks.
Must plan move carefully now.......
No. It's always in the plan if more than usual capital flows into property. The Q at BR just push the button for the garment;-)
most BR buyers are locals leh.
pl all post to this thread
http://forums.condosingapore.com/showthread.php?t=12486&page=4
rather to have two threads on the same subject
Lol, no wonder all the big developer boys all absent from recent lands bids. Government informed them of the upcoming measure liao. Left only the small timers and foreign developers bidding.
buttercarp
07-12-11, 20:19
Mr Basic could be right afterall...
Maybe his thread can become a bestseller?
thats it. market will come to standstill...
Wahhhhh! The nails hit into coffin already! Property prices to drop 50%??? :scared-1: :scared-3: :scared-2:
SINGAPORE: The government has imposed an additional buyer's stamp duty for private property of between 3 per cent and 10 per cent for Singaporeans, Permanent Residents and foreigners from December 8.
Foreigners will pay 10 per cent Additional Buyer's Stamp Duty (ABSD) for any residential property.
Permanent Residents owning one and buying second and subsequent properties will pay 3 per cent ABSD.
Singaporeans owning two and buying third and subsequent residential properties will pay 3 per cent Additional Buyer's Stamp Duty.
- CNA/de
Comments? :)
Thanks.
Must plan move carefully now.......
either don't marry or divorce, need to plan wan meh?
Wahhhhh! The nails hit into coffin already! Property prices to drop 50%??? :scared-1: :scared-3: :scared-2:
transaction drop 50% first bah.
Wahhhhh! The nails hit into coffin already! Property prices to drop 50%??? :scared-1: :scared-3: :scared-2:
In that case, don't mind pay the 6%
Not only to stop foreigners. To discourage pty as an investment as a whole :tongue3:
.... and new sales should be affected even more: since it's not built, almost every buyer is buying a 2nd pty or more. PRs, or citizens marrying PRs will have less incentive to buy new sales.
Bad policy ! To stop the foreigner and protect the bank, u can always say foreigner no loan. If foreigners put full cash in SG, it's good for SG !
And did I read correctly, HDB exempted ? So the high resale HDB prices will not be affected ? :tongue3: that's what ppl really want !
KBW, I'm very disappointed at you ! HK does better: it just simply refuses loan to foreigners!
phantom_opera
07-12-11, 20:24
1. Would this affect CCR more than OCR ?
2. Would this kill MMs or 1br? Since buying 4 MMs will get hit more compared to buying 2 X 2brs
3. Would this encourage ppl to sell first then buy ... mmm
This means Euro coming out with QE and US coming out with QE3 liao. The measure is to stem the flood of funds into SG. People who want to sell out will also think twice coz there might of opp cost to buy or replace their unit.
if i already own one hdb and one pvt, still considered two right?
bargain hunter
07-12-11, 20:28
they don't want foreigners to buy and leave empty on our precious land. :)
Not only to stop foreigners. To discourage pty as an investment as a whole :tongue3:
.... and new sales should be affected even more: since it's not built, almost every buyer is buying a 2nd pty or more. PRs, or citizens marrying PRs will have less incentive to buy new sales.
Bad policy ! To stop the foreigner and protect the bank, u can always say foreigner no loan. If foreigners put full cash in SG, it's good for SG !
And did I read correctly, HDB exempted ? So the high resale HDB prices will not be affected ? :tongue3: that's what ppl really want !
KBW, I'm very disappointed at you ! HK does better: it just simply refuses loan to foreigners!
1. Would this affect CCR more than OCR ?
2. Would this kill MMs or 1br? Since buying 4 MMs will get hit more compared to buying 2 X 2brs
3. Would this encourage ppl to sell first then buy ... mmm
The 10% should affect CCR more... Rich foreigners buy CCRs. In the last month I knew for a fact many PRCs bought d9/10 pties. This pushes up the CCR prices.
But the additional 3% thing should affect across the board. All private upgraders involving PR is affected.
GE effect. Now PAP can claim another citizen advantage.
buttercarp
07-12-11, 20:29
Not only to stop foreigners. To discourage pty as an investment as a whole :tongue3:
.... and new sales should be affected even more: since it's not built, almost every buyer is buying a 2nd pty or more. PRs, or citizens marrying PRs will have less incentive to buy new sales.
Bad policy ! To stop the foreigner and protect the bank, u can always say foreigner no loan. If foreigners put full cash in SG, it's good for SG !
And did I read correctly, HDB exempted ? So the high resale HDB prices will not be affected ? :tongue3: that's what ppl really want !
KBW, I'm very disappointed at you ! HK does better: it just simply refuses loan to foreigners!
Now very confused.....I tot for one moment it was a good move.
Now that you mentioned about the HDB.....
I don't know what to say!
The other question is that - if SG couple own HDB but has 1 private property, if buy 2nd private property, will not be affected, right?
bargain hunter
07-12-11, 20:29
means kill 2 (or more?) birds with one stone? good policy! :D
1. Would this affect CCR more than OCR ?
2. Would this kill MMs or 1br? Since buying 4 MMs will get hit more compared to buying 2 X 2brs
3. Would this encourage ppl to sell first then buy ... mmm
if i already own one hdb and one pvt, still considered two right?
consider as 2, ruling is on number of homes, dun care is hdb or private :)
pl all post to this thread
http://forums.condosingapore.com/sho...t=12486&page=4 (http://forums.condosingapore.com/showthread.php?t=12486&page=4)
rather to have two threads on the same subject
The other question is that - if SG couple own HDB but has 1 private property, if buy 2nd private property, will not be affected, right?
will be affected
1. Would this affect CCR more than OCR ?
2. Would this kill MMs or 1br? Since buying 4 MMs will get hit more compared to buying 2 X 2brs
3. Would this encourage ppl to sell first then buy ... mmm
i think there will be more mm, like what Laguna said developers absorb 3% is abt 21k for 700k unit. Lose 3% margin better than price falling off 10%.
So will these cooling measures divert investors to commercial and industrial properties?
Check out
http://app.mnd.gov.sg/Newsroom/NewsPage.aspx?ID=3202&category=Press+Release&year=2011&RA1&RA2&RA3
They say residential property..so I guess 1 hdb+1 private or 2 private kena:banghead:
Now very confused.....I tot for one moment it was a good move.
Now that you mentioned about the HDB.....
I don't know what to say!
The other question is that - if SG couple own HDB but has 1 private property, if buy 2nd private property, will not be affected, right?
OCR gap with RCR will close up. Heartlands are given alot of emphasis to win citizens. OCR price cannot be shaken too much, OCR and HDB is the floor, the rest levitating will need to respect law of gravity to some extent. It's good, such measure won't induce too much panic selling.
buttercarp
07-12-11, 20:35
consider as 2, ruling is on number of homes, dun care is hdb or private :)
OMG :doh: !
But thanks, taggy.
Must let my SPR SIL know about this.
Indeed, for them to put up a wall that high means that they are anticipating a huge flood of liquidity coming our way. There is likely insider news on the measures which will be announced this EU summit. Geithner's visit to Europe may also signal another set of coordinated measures.
This means Euro coming out with QE and US coming out with QE3 liao. The measure is to stem the flood of funds into SG. People who want to sell out will also think twice coz there might of opp cost to buy or replace their unit.
i like this....:)
The Government will continue to monitor the property market and adjust our property policies in step with changes in the market and the economy. Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister for Finance, said, “We have always had open markets and must keep them that way. However, the reality is that investment flows into our property market are now larger than before, and unlikely to recede as long as interest rates remain low. The additional buyer’s stamp duty should help cool investment demand, and avoid the prospect of a major, destabilising correction further down the road.”
well said....
Waiting for down time to buy 3rd property or 4th property will come at an additional cost liao! :doh:
they don't want foreigners to buy and leave empty on our precious land. :)
Insufficient land is an excuse when marketing by developers . The entire OCR has hundreds of thousands of acres of land available. We have not even reached the density of HK Kowloon area.
If a foreigner places his asset in full no leverage in SG, this is the wealth we should attract ! Do we want to be the Switzerland of the east or not ? Fix asset is usually the 1st step. With a house, the other assets will follow.
I just feel MAS is worry about the massive liquidity and is doing a preemptive move.
tommorow morning PROPERTY STOCKS DIE ahhhhh:cool:
i like this....:)
The Government will continue to monitor the property market and adjust our property policies in step with changes in the market and the economy. Mr Tharman Shanmugaratnam, Deputy Prime Minister and Minister for Finance, said, “We have always had open markets and must keep them that way. However, the reality is that investment flows into our property market are now larger than before, and unlikely to recede as long as interest rates remain low. The additional buyer’s stamp duty should help cool investment demand, and avoid the prospect of a major, destabilising correction further down the road.”
well said....
Ditto.....
So will these cooling measures divert investors to commercial and industrial properties?
commercial and industrial properties look more attractive now.
The previous concern on commercial industrial investments was the GST imposed. With this additional stamp duty, the difference is disappearing.....
So now SSD and BSD will be that double edged sword that slay investors! Why 3rd property? Is this a magical number? :confused:
Waiting for down time to buy 3rd property or 4th property will come at an additional cost liao! :doh:
bro two is enough one to stay one to rent...:D
thats why people got TWO wife one to cook for you and one to play with you...:D :D :D
if i already own one hdb and one pvt, still considered two right?
hdb is still residential property, so i guess yes.
my analysis
1. The 3% is not that stiff for the PR and SC, the sellers or developers can absord that easily
2. foreign interest will definitely drop.
3. market will be very quite.....property agents...jobless...
So, next, where will the China buyers go to now? A place with growth, and not much of taxes. My guess
1. London Prime (zone 1)
2. US prime (SF Bay and NY)
For Asia, where the money goes to...I think should be Malaysia...the only cooling measure is the capital gain up by another 5% this year....and the prices are still so cheap...
My Malaysia property tour starts tomorrow....
SGP may still be attractive when compared to London & US, there's no capital gain tax + other taxes. Except you pay up-front first.
So now SSD and BSD will be that double edged sword that slay investors! Why 3rd property? Is this a magical number? :confused:
bite cherry twice mah.... like HDB... :D
Wahhhhh! The nails hit into coffin already! Property prices to drop 50%??? :scared-1: :scared-3: :scared-2:
do i hear MR B...:D :D :D
If a foreigner places his asset in full no leverage in SG, this is the wealth we should attract ! Do we want to be the Switzerland of the east or not ? Fix asset is usually the 1st step. With a house, the other assets will follow.
I just feel MAS is worry about the massive liquidity and is doing a preemptive move.
Sentosa first to freeze. :scared-3:
SGP may still be attractive when compared to London & US, there's no capital gain tax + other taxes. Except you pay up-front first.
Yep. In Australia, the 50% of the capital gains is tax at your income tax rate for the year.
commercial and industrial properties look more attractive now.
The previous concern on commercial industrial investments was the GST imposed. With this additional stamp duty, the difference is disappearing.....
Well, I guess commercial/industrial properties may now be the next better alternative to hedge against inflation without having to be entangled in those cooling measures imposed in residential properties.
buttercarp
07-12-11, 20:48
Sentosa first to freeze. :scared-3:
I agree....very hard to defrost.
Why the contradiction? Tot our lovely govt insists that Singapore remain the number 1 investment destination in the world? Why now slap ourselves? Or they have a potential follow up move? :scared-3:
Furthermore, our dear Mr KBW said the Jan CM has achieved its desired result but now come out with another stance? :rolleyes:
pl all post to this thread
http://forums.condosingapore.com/sho...t=12486&page=4 (http://forums.condosingapore.com/showthread.php?t=12486&page=4)
rather to have two threads on the same subject
Why the contradiction? Tot our lovely govt insists that Singapore remain the number 1 investment destination in the world? Why now slap ourselves? Or they have a potential follow up move? :scared-3:
Furthermore, our dear Mr KBW said the Jan CM has achieved its desired result but now come out with another stance? :rolleyes:
think they are concerned with the increasing number of foreign buyers.
Those with 2 or more properties must now consider how much fall in property prices before splurging on the next property. :(
buttercarp
07-12-11, 20:54
think they are concerned with the increasing number of foreign buyers.
But these foreigners cannot buy HDB, so imposing these CM will not help in HDB prices.
Stupid crappyland spoil market...:tsk-tsk:
as usual...
Why the contradiction? Tot our lovely govt insists that Singapore remain the number 1 investment destination in the world? Why now slap ourselves? Or they have a potential follow up move? :scared-3:
Furthermore, our dear Mr KBW said the Jan CM has achieved its desired result but now come out with another stance? :rolleyes:
This measure is to win votes and to stem what is to happen very soon on the worldwide stage, I.e. QE and more QE. There will be more activities in the heartlands to make people happy as the economy grows gloomy.
But these foreigners cannot buy HDB, so imposing these CM will not help in HDB prices.
theoretically it does, albeit after some time. As hdb pricing is based on market pricing, if pte ppty prices do stall, hdb resale prices will not continue to climb.
Basically they are collecting protection money....We are AAA, park your money here in properties. :rolleyes:
Govt's tactical move to ensure that property prices will not rise further for now so that when recession eventually hits our shores, the drop in our property prices will not be so much as to cause an unncessary rise in the numbers of bodies in Bedok Reservoir!
But these foreigners cannot buy HDB, so imposing these CM will not help in HDB prices.
The Measure will make alot of Singaporean landlords happy, foreigners gotta rent from Singaporeans as additional stamp duty will deter them from buying.
This measure is to win votes and to stem what is to happen very soon on the worldwide stage, I.e. QE and more QE. There will be more activities in the heartlands to make people happy as the economy grows gloomy.They are certainly losing the votes of local investors who desires for the 3rd and subsequent properties. Well, I suppose this number is small enough for govt to give up in exchange for the many others they probably might gain coz property prices start to come down... :scared-5:
I believe the contrary: the measure will kill most foreigners buying OCR properties! With OCR at record high, & supposed to cater to HDB up graders, heard most Chinamen are buying the OCR for speculation. Imagine Citizen buy Bedok Residence at $1350 psf which is already record high price, PR pay 3% more, foreigners pay 10% more! Foreigners how to make money when they sell? :doh:
The 10% should affect CCR more... Rich foreigners buy CCRs. In the last month I knew for a fact many PRCs bought d9/10 pties. This pushes up the CCR prices.
But the additional 3% thing should affect across the board. All private upgraders involving PR is affected.
GE effect. Now PAP can claim another citizen advantage.
They are certainly losing the votes of local investors who desires for the 3rd and subsequent properties. Well, I suppose this number is small enough for govt to give up in exchange for the many others they probably might gain coz property prices start to come down... :scared-5:
the silent majority own properties in Sg...be it HDB or private
But these foreigners cannot buy HDB, so imposing these CM will not help in HDB prices.
Developers spoil mkt with their PRC tour group.:D Once they touched mass mkt pty , you know they are looking for trouble.....:doh:
The Measure will make alot of Singaporean landlords happy, foreigners gotta rent from Singaporeans as additional stamp duty will deter them from buying.
yah hor...:D
the ones here for short term will not even consider.
those longer term ones may still bite.
Its time to consider how else to use the cash which has been saved up for the 3rd or subsequent properties... Lol! :D
It certainly makes the much anticipated Bishan launch much more interesting to watch... :)
buttercarp
07-12-11, 21:05
The Measure will make alot of Singaporean landlords happy, foreigners gotta rent from Singaporeans as additional stamp duty will deter them from buying.
These foreigners can apply for PR.
But I guess now, it is less easy to get PR.
Its time to consider how else to use the cash which has been saved up for the 3rd or subsequent properties... Lol! :D
What is 3% to you.:D I am assuming you're S'porean or PR.:)
phantom_opera
07-12-11, 21:07
Its time to consider how else to use the cash which has been saved up for the 3rd or subsequent properties... Lol! :D
tomorrow will 2X my position in SMRT, no way to park $$ liao
think they are concerned with the increasing number of foreign buyers.Then don't disturb the equilibrium for the locals which has been achieved through the Jan CM... :D
High HDB resale prices? Ok! Don't need ABSD. :doh:
High private property prices? Not Ok! Must have ABSD! :scared-2:
That is the message I am getting From MND & KBW. :beats-me-man:
Not only to stop foreigners. To discourage pty as an investment as a whole :tongue3:
.... and new sales should be affected even more: since it's not built, almost every buyer is buying a 2nd pty or more. PRs, or citizens marrying PRs will have less incentive to buy new sales.
Bad policy ! To stop the foreigner and protect the bank, u can always say foreigner no loan. If foreigners put full cash in SG, it's good for SG !
And did I read correctly, HDB exempted ? So the high resale HDB prices will not be affected ? :tongue3: that's what ppl really want !
KBW, I'm very disappointed at you ! HK does better: it just simply refuses loan to foreigners!
the silent majority own properties in Sg...be it HDB or private
the silent majority owns 1 property in sgp.
still have 1 extra to be get duty-free. still happy with PAP for cooling market.:)
the vocal minority (in this forum) already has >2 property... that's why this thread is so active....:banghead:
High HDB resale prices? Ok! Don't need ABSD. :doh:
High private property prices? Not Ok! Must have ABSD! :scared-2:
That is the message I am getting From MND & KBW. :beats-me-man:Huh... tot the properties include both HDB and PC?
High HDB resale prices? Ok! Don't need ABSD. :doh:
I have a feeling KBW has something up his sleeve for this segment.:)
I have a feeling KBW has something up his sleeve for this segment.:)
:D :D with increasing of bto, make it cheaper and attractive
What is 3% to you.:D I am assuming you're S'porean or PR.:)Thank you for seeing me so up... Lol... no lah.. its just the thought that govt is simply making the most profit from all these measures aimed at helping the people. They happily take earnings on the pretext of helping others... Maybe after another 6 months when things settle down again, another trick, I meant measure, will emerge to cool prices further?
This is similar to the saga with the recent taxi fare hike again! Comfort Delgro says they need to consider the welfare of their drivers' income so they push the responsibilities of looking after their income onto the commuters. If they're really concern, they should cut their rental cost for their taxis also, so that responsibility of looking after the welfare of the drivers is shared between both the employers and the commuters. Same logic?
Shouldn't they cool commercial, industrial & office properties? :doh:
Peak prices are translating to super high inflation as business costs passed on to consumers! my chicken rice' chicken & rice getting so little that I need to order 2plates instead of 1 to fill my stomach! Yet these will never be captured in the official inflation data! Even so, yet inflation rises >5% in Singapore! Can't imagine how high it will be if they capture the true inflation? :scared-1:
So will these cooling measures divert investors to commercial and industrial properties?
The rise of multi-key units shall begin haa haa....
3 bedroom triple key units?
4 bedroom quad key units?
:D
bargain hunter
07-12-11, 21:14
already struggling to find rentals and buyers. now even worse.
Sentosa first to freeze. :scared-3:
I believe the contrary: the measure will kill most foreigners buying OCR properties! With OCR at record high, & supposed to cater to HDB up graders, heard most Chinamen are buying the OCR for speculation. Imagine Citizen buy Bedok Residence at $1350 psf which is already record high price, PR pay 3% more, foreigners pay 10% more! Foreigners how to make money when they sell? :doh:
Most of the OCR buyers are Singaporeans. Measure is good, no more flipping but renting to foreigners who think twice to buy. Key is to sell to people who wanna stay to stabilize market. OCR quantum still lower than CCR and RCR. ABSD not as damaging. And if OCR heartlands are made attractive to live in, foreigners will buy OCR since the 10% of a smaller quantum is more attractive than 10% of a huge quantum.
devilplate
07-12-11, 21:16
I believe the contrary: the measure will kill most foreigners buying OCR properties! With OCR at record high, & supposed to cater to HDB up graders, heard most Chinamen are buying the OCR for speculation. Imagine Citizen buy Bedok Residence at $1350 psf which is already record high price, PR pay 3% more, foreigners pay 10% more! Foreigners how to make money when they sell? :doh:
U also say 4yrs ssd affect ocr more last time.....
Now also say ocr more impact....lol
Those above 1.5 mil quantum pte ppty will be dead regardless ocr or rcr or ccr
The rise of multi-key units shall begin haa haa....
3 bedroom triple key units?
4 bedroom quad key units?
:D
Agree. Let's see how the developer chu pattern liao. Then again so many MM and studio in market already. FT with families will still need to rent proper place.
sizes of all developments will be smaller by at least 3%
units for foreigners (strata house) will go down by 10% smaller
this will solve the problem
devilplate
07-12-11, 21:18
yah hor...:D
the ones here for short term will not even consider.
those longer term ones may still bite.
No way foreigner will buy la...13% is alot!
Its like saying condo foreigner no longer eligible....whahahahaha
Park ur money in malaysian bank n earn more then 7% in Rm. Every mth i like my statement
Most PR application got rejected early this year! :beats-me-man:
These foreigners can apply for PR.
But I guess now, it is less easy to get PR.
No way foreigner will buy la...13% is alot!
Its like saying condo foreigner no longer eligible....whahahahaha
Good wat. Enlarge my tenant group
Park ur money in malaysian bank n earn more then 7% in Rm. Every mth i like my statement
So high? Please share more.
phantom_opera
07-12-11, 21:21
amk is right, this is to discourage SC/SPR owning multiple properties as asset class to hedge inflation, where else then can rich ppl park their $$? luckily I reduce my gearing already ... resale market will be down 10% overnight ... this is too drastic
Maybank isavvy FD 1.35% haa haa :rolleyes:
devilplate
07-12-11, 21:23
Most of the OCR buyers are Singaporeans. Measure is good, no more flipping but renting to foreigners who think twice to buy. Key is to sell to people who wanna stay to stabilize market. OCR quantum still lower than CCR and RCR. ABSD not as damaging. And if OCR heartlands are made attractive to live in, foreigners will buy OCR since the 10% of a smaller quantum is more attractive than 10% of a huge quantum.
All pte ppty shall drop....ocr haf been attracting more buyers buying for investment.....whole ppty market sentiment cfm dead.....even genuine home buyers cfm pull handbrake for at least next 3-6mths....all expect to have 10% discount at least?
Most PR application got rejected early this year! :beats-me-man:
yes, early this year before the GE
what about now?
more westerners coming here to work even on local terms
Crappyland bishan condo 1+study sell me 600k please.... :rolleyes:
phantom_opera
07-12-11, 21:24
Maybank isavvy FD 1.35% haa haa :rolleyes:
nah better buy Singtel/SMRT, 5% yield, relatively recession proof
Haven't you heard Singapore land is path with gold?
If gold is believed to hit US$2000/ounce and above soon, 10% ABSD is nothing in comparison
I think it will slow the flow of foreign fund but not going stop it. Govt coffer is going glow bigger.
devilplate
07-12-11, 21:25
sizes of all developments will be smaller by at least 3%
units for foreigners (strata house) will go down by 10% smaller
this will solve the problem
Strata hse within condo dead meat....greatest impact
Vision townhse 600psf i aso dunwan liao.....400psf den consider....whahahaha
Shouldn't they cool commercial, industrial & office properties? :doh:
Peak prices are translating to super high inflation as business costs passed on to consumers! my chicken rice' chicken & rice getting so little that I need to order 2plates instead of 1 to fill my stomach! Yet these will never be captured in the official inflation data! Even so, yet inflation rises >5% in Singapore! Can't imagine how high it will be if they capture the true inflation? :scared-1:
Eat at boon tong kee or loy kee rather than chatterbox. Heh. This is the hottest topic today. BR's response triggered this.
HK central CCR > $15k psf! SG central CCR $6.5k psf. SG Lose so much! :doh:
HK OCR $1k psf. SG OCR $1.35k psf! :scared-1: SG middle income earn so much more than HK? :scared-3:
U also say 4yrs ssd affect ocr more last time.....
Now also say ocr more impact....lol
Those above 1.5 mil quantum pte ppty will be dead regardless ocr or rcr or ccr
So high? Please share more.
Go across causeway, park some ringgit in any local bank. Interest rate is very high over there..
yes, early this year before the GE
what about now?
more westerners coming here to work even on local terms
Floodgates open liao after GE. I am sure ppl won't mind more Ang MOHs than China Chinese and India Indians.
More foreign talents will convert to PR and more will convert to Singapore citizens thus more votes to PAP.
Property will slow for sure but increase in property tax for HDB means floor is fixed liao. Ridiculous COV may begin to vanish liao.
phantom_opera
07-12-11, 21:28
Hmmm STI futures only down 0.5%
Go across causeway, park some ringgit in any local bank. Interest rate is very high over there..
Hmm. Noted. Will consider.
devilplate
07-12-11, 21:29
Park ur money in malaysian bank n earn more then 7% in Rm. Every mth i like my statement
Which bank? Maybank got 7% so high meh?
I tink msia ringgit can change some!
Yes, more foreigners come, but on work permits, difficult to convert to PR now even after GE. My sources tell me.
yes, early this year before the GE
what about now?
more westerners coming here to work even on local terms
devilplate
07-12-11, 21:30
Most PR application got rejected early this year! :beats-me-man:
Idea siaaa
Our govt like playing hard to get liao.....our PR worth some money now....whahaha
Think the greatest winner might still be the MMs and studios. At $500k, its an additional $15k BSD. For a $1.5mil property, its easily an additional $45k BSD. Coupled with the 60% LTV, upfront cash/cpf required is easily $685k consisting of $85k stamp duty. That is a lot of liquid cash just to pay govt for your purchase. :sleep:
HK central CCR > $15k psf! SG central CCR $6.5k psf. SG Lose so much! :doh:
HK OCR $1k psf. SG OCR $1.35k psf! :scared-1: SG middle income earn so much more than HK? :scared-3:
Have to compare HK OCR with HDB prices. 80% (ie middle income) stay in HDB
Geylang OKT
07-12-11, 21:33
very interesting...... property prices will plummet down like a tonne of rocks :D
Those who are waiting by the sides for falling durian will have a smaller purse to play with now. 3% smaller... Lol! :cheers1:
So govt do read Mr B's postings after all! :D
Btw this thread is expanding faster than that by Mr B some 2 months back. Wow! Records are falling like dominos! :p
Which bank? Maybank got 7% so high meh?
I tink msia ringgit can change some!
Yes devil. Maybank is the one, other bank also around that rate. There is a maybank at city sqr. Near n safe...
Geylang OKT
07-12-11, 21:35
Those who are waiting by the sides for falling durian will have a smaller purse to play with now. 3% smaller... Lol! :cheers1:
Then the seller will have to sell 3% cheaper too :D
buyers (if any) market soon :D
such a drastic measure just before the crucial European Union summit tomorrow? is s'pore govt already expecting things to turn out well n therefore taking pre-emptive measures?
if not why not wait a bit more until the direction of the crisis is clearer before implementing more cooling measures? otherwise if recession comes, how?
or they think if recession comes, more foreigners will park their assets in safe haven s'pore?? so either way, cooling measures r due?
Thomson Grand townhouse owners looking for a flip will be pretty upset.
Go across causeway, park some ringgit in any local bank. Interest rate is very high over there..
Thought have to be malaysian then can enjoy the high interest, no?
Then the seller will have to sell 3% cheaper too :D
buyers (if any) market soon :DGovt actually very smart... they know they may manipulate the market such that through that move to 'save' the market, they have turned it around to become buyers' market and in so doing, they are collecting BSD like baby drinking milk every 3 hours :cheers2:. :2cents: will flow into their pockets swiftly. :cheers1:
MM makes more sense now due to lower taxes.
devilplate
07-12-11, 21:40
very interesting...... property prices will plummet down like a tonne of rocks :D
Ur biz cfm up up up!
Coe cat b also start to drop liao! Crash is coming!
Geylang OKT
07-12-11, 21:40
Govt actually very smart... they know they may manipulate the market such that through that move to 'save' the market, they have turned it around to become buyers' market and in so doing, they are collecting BSD like baby drinking milk every 3 hours :cheers2:. :2cents: will flow into their pockets swiftly. :cheers1:
Give the property market a well deserved rest. Good pickings to be had in 1.5yrs to 2yrs time :D
So govt do read Mr B's postings after all! :D
Mr B postings are out of proportion...everyone knows there is slowdown blah blah in digital age..info is transparent the problem is he keeps on posting like the world is coming to the end that infuriates even Buddha:D
Those units that depend on foreigners buying will be hit the hardest...:o
such a drastic measure just before the crucial European Union summit tomorrow? is s'pore govt already expecting things to turn out well n therefore taking pre-emptive measures?
if not why not wait a bit more until the direction of the crisis is clearer before implementing more cooling measures? otherwise if recession comes, how?
or they think if recession comes, more foreigners will park their assets in safe haven s'pore?? so either way, cooling measures r due?Our lovely govt always believe in staying one step ahead of others, the key to stay afloat in the impending turbulent storm. :cool:
such a drastic measure just before the crucial European Union summit tomorrow? is s'pore govt already expecting things to turn out well n therefore taking pre-emptive measures?
if not why not wait a bit more until the direction of the crisis is clearer before implementing more cooling measures? otherwise if recession comes, how?
or they think if recession comes, more foreigners will park their assets in safe haven s'pore?? so either way, cooling measures r due?
If recession is expected, price will automatic come down, don't need another cooling measure.
Allthepies
07-12-11, 21:42
Think should cheong stocks now, liquidity will cheong into stocks, no other place to go :D
devilplate
07-12-11, 21:42
Yes devil. Maybank is the one, other bank also around that rate. There is a maybank at city sqr. Near n safe...
On la! Ringgit better den oz dollar to change now....;)
flagship74
07-12-11, 21:43
So What Mr B said is correct?!;)
Geylang OKT
07-12-11, 21:43
Mr Basic got it rite this time! Kudos! :D :D :D
Thomson Grand townhouse owners looking for a flip will be pretty upset.
They must be crazy to want to flip when they bought few mths ago.
On la! Ringgit better den oz dollar to change now....;)
There was capital control b4 in Malaysia right?
Malaysia will laugh at us....
they want foreign monies and yet Singapore Govt is more than willing to give them...
On la! Ringgit better den oz dollar to change now....;)Sing D and Ringgit up and down roller coaster so not much of a leverage these past year. You change with what currency?
phantom_opera
07-12-11, 21:44
Volume will drop to near zero next month, agents eat grass
Geylang OKT
07-12-11, 21:44
Ur biz cfm up up up!
Coe cat b also start to drop liao! Crash is coming!
gahmen better go protect Bedok Reservoir :D
They must be crazy to want to flip when they bought few mths ago.Yup... with that SSD, they must be crazy but there are indeed crazy people in our midst... :D
phantom_opera
07-12-11, 21:45
Think should cheong stocks now, liquidity will cheong into stocks, no other place to go :D
3X my SMRT position tomorrow ;)
This will provide further support for the rental market with more units top next 2 year. :cheers1:
Volume will drop to near zero next month, agents eat grassDevelopers cursing too... double blow for those who recently bought land parcel at super high price too... Oops! :rolleyes:
gahmen better go protect Bedok Reservoir :DAlso at Marina Bay where the latest body was recovered... :scared-4:
Geylang OKT
07-12-11, 21:48
This will provide further support for the rental market with more units top next 2 year. :cheers1:
The rental market will also drop. Cos many desperate buyers who cannot sell will turn to renting out their apts instead. So guess what happens when supply outstrips demand? :D :D :D
devilplate
07-12-11, 21:49
Sing D and Ringgit up and down roller coaster so not much of a leverage these past year. You change with what currency?
Use sgd la.....gd wat stay flattish for xchange rate....wat we want is their high int rate....now oz 1.3x so high...zzzz
Btw msia int rate oly 3.x% leh....whr got so high?
I guess govt is concern that after so many cooling measures, BR still gotten such good response so better step in and stabilise the market...dont let it chiong further. ...Dont think they would want to purposely crash the property market..there are also alot of locals who already have vested interest in pte property...
Mr B is preaching doomsday scenario, why would SG govt want that to happen???
devilplate
07-12-11, 21:51
Developers cursing too... double blow for those who recently bought land parcel at super high price too... Oops! :rolleyes:
Nxt few bidding how low? Whahahaha
Developers cfm pull handbrake too!
The rental market will also drop. Cos buyers who cannot sell will turn to renting their apts instead. So guess what happens when supply outstrips demand? :D :D :D
Also possible.. Back to number again..
Geylang OKT
07-12-11, 21:51
I guess govt is concern that after so many cooling measures, BR still gotten such good response so better step in and stabilise the market...dont let it chiong further. ...Dont think they would want to purposely crash the property market..there are also alot of locals who already have vested interest in pte property...
Mr B is preaching doomsday scenario, why would SG govt want that to happen???
Cos the SG Govt sees the crash as the lesser of two evils :D
When's the next near MRT launch? Oh yah, FEO's Watertown or whatever it's called.
The rental market will also drop. Cos many desperate buyers who cannot sell will turn to renting out their apts instead. So guess what happens when supply outstrips demand? :D :D :DNo worries for HDB supply coz no HDB flat buyers will fall in the categories stipulated today... its the PC supply that will pose the core of the problem. However, I suspect developers and sellers alike, will tweak their expectations so supply will also come down accordingly. :o
I guess govt is concern that after so many cooling measures, BR still gotten such good response so better step in and stabilise the market...dont let it chiong further. ...Dont think they would want to purposely crash the property market..there are also alot of locals who already have vested interest in pte property...
Mr B is preaching doomsday scenario, why would SG govt want that to happen???
bro, garmen target foreigners and PR to make citizens see that u still can own 2 property compared to the other 2 groups...so PAPA good or not?? 85% of people will say GOOD as still got chance to own 2...:D :D .
Regulators
07-12-11, 21:54
Knn kbw really chia pah bo sai pang, our pty pxs already among the most expensive in the world still got high sd for buying, really na beh...:doh:
Geylang OKT
07-12-11, 21:55
No worries for HDB supply coz no HDB flat buyers will fall in the categories stipulated today... its the PC supply that will pose the core of the problem. However, I suspect developers and sellers alike, will tweak their expectations so supply will also come down accordingly. :o
very dicey..... especially when you already have 41,000 pc "not-taken" units to offload :D :D :D
The rental market will also drop. Cos many desperate buyers who cannot sell will turn to renting out their apts instead. So guess what happens when supply outstrips demand? :D :D :D
Remember the foreigners are deterred from buying. And even if they want to buy, OCR is cheaper.
I guess govt is concern that after so many cooling measures, BR still gotten such good response so better step in and stabilise the market...dont let it chiong further. ...Dont think they would want to purposely crash the property market..there are also alot of locals who already have vested interest in pte property...
Mr B is preaching doomsday scenario, why would SG govt want that to happen???Govt merely want to curb surging property prices, as with all pass CMs. This is in anticipation of a bearish economy come 2012 so that property prices will not fall so much because it hasn't climbed so much. The higher you climb, the greater you fall! :o
When's the next near MRT launch? Oh yah, FEO's Watertown or whatever it's called.
15% discount + 10% earlybird discount + 10% loyalty discount + 5% furniture vouchers + stamp duty rebate. :D
Geylang OKT
07-12-11, 21:57
Remember the foreigners are deterred from buying. And even if they want to buy, OCR is cheaper.
No buyers in sight? Then sellers will have to be more realistic and keep lowering their prices until buyers are again tempted to bite. IMHO, not too soon, or when prices are about 30% below current prices :D
Knn kbw really chia pah bo sai pang, our pty pxs already among the most expensive in the world still got high sd for buying, really na beh...:doh:Your vocab here requires army personnels to interpret. Lol! :D
Geylang OKT
07-12-11, 21:58
25% discount + 15% earlybird discount + 20% loyalty discount + 15% furniture vouchers + stamp duty rebate. :D
modify a little bit more for buyers to be tempted in this uncertain climate :D
No buyers in sight? Then sellers will have to be more realistic and keep lowering their prices until buyers are again tempted to bite. IMHO, not too soon, or when prices are about 30% below current prices :D
bullets fully loaded in Magnum :D
Developers cursing too... double blow for those who recently bought land parcel at super high price too... Oops! :rolleyes:
I thought MBT said earlier this year "Developers shall be punished" ? :rolleyes:
devilplate
07-12-11, 22:00
No buyers in sight? Then sellers will have to be more realistic and keep lowering their prices until buyers are again tempted to bite. IMHO, not too soon, or when prices are about 30% below current prices :D
20% can tempt me oredi...but now nid 23% whahahaha
15% discount + 10% earlybird discount + 10% loyalty discount + 5% furniture vouchers + stamp duty rebate. :DAt 46% discount, its really property prices down 50% liao... Lol! :cheers1:
devilplate
07-12-11, 22:01
I thought MBT said earlier this year "Developers shall be punished" ? :rolleyes:
Expect to haf more winning bids rejected?
Geylang OKT
07-12-11, 22:01
bullets fully loaded in Magnum :D
way, way too early :D
Maybe when property market slows down to a snail crawl, govt may well consider removing some of these CM... Lol! :D
phantom_opera
07-12-11, 22:03
Bedok residences culprit ... 1350psf sold 80% in 2d and big big news about queuing up must have alarmed the PAP ... the buyers deserved to be punished lol
I thought MBT said earlier this year "Developers shall be punished" ? :rolleyes:Its developers and investors with 3 or more properties must be punished! :D
From what I am reading here, any dip in price will be short-lived.... too many vultures.
Geylang OKT
07-12-11, 22:04
Bedok residences culprit ... 1350psf sold 80% in 2d and big big news about queuing up must have alarmed the PAP ... the buyers deserved to be punished lol
Wahahahahahaha!!!! their evil strategy totally backfired! :D :D :D
way, way too early :DInteresting to read this Sat's papers on property advertisements! :47:
Geylang OKT
07-12-11, 22:05
From what I am reading here, any dip in price will be short-lived.... too many vultures.
anyway, smart eagles will not swoop in for the kill till a couple of years later :D ;) :tongue3:
Wahahahahahaha!!!! their evil strategy totally backfired! :D :D :DFirst it was SL who destroyed the ECs for developers, now its Capitaland at Bedok Residence? Wahahaha! :banghead:
High on the wanted list of developers
1. Sim Lian
2. Capitaland
3. ???
Geylang OKT
07-12-11, 22:06
Interesting to read this Sat's papers on property advertisements! :47:
Firesale! Lelong 50% discount and still negotiable! :D
anyway, smart eagles will not swoop in for the kill till a couple of years later :D ;) :tongue3:
it shld be as: no stupid ass wanna caught in a spiral CM trend
phantom_opera
07-12-11, 22:08
SL Bukit Panjang plot, Watertown, Bishan CAPL, Thomson Grand, D Leedon death penalty straight ...
Silversea can still sell 2.2kpsf :scared-1:
There should be quite a number of foreigners buying by tonight....
Geylang OKT
07-12-11, 22:35
There should be quite a number of foreigners buying by tonight....
More likely not buying till the dust settles down. Why rush to buy tonight when you can get the same devt at maybe 20% to 30% cheaper a couple of months down the road? :D
If i am a foreigner, i will quickly sign on the dotted line today or back date otherwise kena high stamp duty.
So is it based on option date or excercise date?
buttercarp
07-12-11, 22:43
If i am a foreigner, i will quickly sign on the dotted line today or back date otherwise kena high stamp duty.
Yeah, like the foreigners whose children will be starting school next year.
devilplate
07-12-11, 22:43
Bedok residences culprit ... 1350psf sold 80% in 2d and big big news about queuing up must have alarmed the PAP ... the buyers deserved to be punished lol
Luckily launch high high px ar! If not i goto forfeit 1.25% kopi $$$$
So is it based on option date or excercise date?
The ABSD will take effect on 8 Dec 20113. Remission of ABSD will be given for options granted on or before 7 Dec 2011 and exercised within 3 weeks (i.e. on or before 28 Dec 2011) or the option validity period, whichever is the earlier.
Why now??? when it seems that everyone knows the mkt is going to cool down in the coming months...Why pull handbrake now?? Why why why :confused: :confused: :confused:
devilplate
07-12-11, 22:47
More likely not buying till the dust settles down. Why rush to buy tonight when you can get the same devt at maybe 20% to 30% cheaper a couple of months down the road? :D
Ya la....they count themselves lucky to save the 1% deposit haha
devilplate
07-12-11, 22:48
Why now??? when it seems that everyone knows the mkt is going to cool down in the coming months...Why pull handbrake now?? Why why why :confused: :confused: :confused:
Cap gain tax also introduced just b4 97 crash.....hint hint liao
This CM will accelerate the rate of crash!
buttercarp
07-12-11, 22:49
The ABSD will take effect on 8 Dec 20113. Remission of ABSD will be given for options granted on or before 7 Dec 2011 and exercised within 3 weeks (i.e. on or before 28 Dec 2011) or the option validity period, whichever is the earlier.
Thanks for the info, taggy.
LOL....!!!
Will Earth still exist?
The ABSD will take effect on 8 Dec 20113. Remission of ABSD will be given for options granted on or before 7 Dec 2011 and exercised within 3 weeks (i.e. on or before 28 Dec 2011) or the option validity period, whichever is the earlier.
So those BR buyers have gotten away...
buttercarp
07-12-11, 22:52
So those BR buyers have gotten away...
If most are HDB upgraders, then they won't be affected anyway.
devilplate
07-12-11, 22:52
So those BR buyers have gotten away...
They r damn suay to commit just b4 this CM....1.25% is 10k+ leh.....lol
The ABSD will take effect on 8 Dec 20113. Remission of ABSD will be given for options granted on or before 7 Dec 2011 and exercised within 3 weeks (i.e. on or before 28 Dec 2011) or the option validity period, whichever is the earlier.
as long as exercise date not reached, can backdate the option signing date right
Good move by govt. think long term guys! We want serious foreign investors, not flight speculators that flee at any shakeup. Pple are exiting the money markets and there's a huge flood of liquidity flowing into our shores. Our govt need to act fast and this is swift and commendable. Developers ( FEO, pls hear this) will also stop inflating psfs that suit the Chinese market eg 1600psf at Telok Kurau!!!
as long as exercise date not reached, can backdate the option signing date right
Army teaches 'do anything as long as dun get caught' :D
devilplate
07-12-11, 23:02
Good move by govt. think long term guys! We want serious foreign investors, not flight speculators that flee at any shakeup. Pple are exiting the money markets and there's a huge flood of liquidity flowing into our shores. Our govt need to act fast and this is swift and commendable. Developers ( FEO, pls hear this) will also stop inflating psfs that suit the Chinese market eg 1600psf at Telok Kurau!!!
Lol.....
It is as good as saying our pte ppty foreigners r not eligible la....whahahaha
Serious foreign investors will buy elsewhere
Y pay unsubsidised pte ppty to get slammed wif higher stamp duty plus 4yrs mop....whahaha......hdb bestest! Whahahha
Compare private to private mah. You want to compare HDB to HK public housing? HK even more lagi cheap! :p
Have to compare HK OCR with HDB prices. 80% (ie middle income) stay in HDB
So those BR buyers have gotten away...
Well see how many chicken out and not exercise the option.
devilplate
07-12-11, 23:08
Compare private to private mah. You want to compare HDB to HK public housing? HK even more lagi cheap! :p
I tot hk public housing not for sale and oly for rent? Just like our hdb rental flats?
Not only foreign not buy
sg investors will go overseas as well
devilplate
07-12-11, 23:12
Not only foreign not buy
sg investors will go overseas as well
Hey, msia fd only 3.x% rite?
Actually for a start, developers can give stamp duty rebate and maintain the price. :beats-me-man:
devilplate
07-12-11, 23:20
Actually for a start, developers can give stamp duty rebate and maintain the price. :beats-me-man:
U still dare to buy? It further dampen the oredi weak weak sentiment
Lucky I signed my option last week...lol. Else I will back out from my 6th property le.
Geylang OKT
07-12-11, 23:25
Lucky I signed my option last week...lol. Else I will back out from my 6th property le.
You will have a hard time finding buyers for the next few years though :D
You will have a hard time finding buyers for the next few years though :D
No la never intended to sell
Lucky I signed my option last week...lol. Else I will back out from my 6th property le.
u probably could buy cheaper
SINGAPORE: The Real Estate Developers Association of Singapore (REDAS) has expressed its disappointment over the lack of consultation, following the government's announcement of the latest property cooling measures.
It said the measures came as a surprise, as the current market outlook is uncertain.
REDAS said the good take-up rate in the primary market is driven by the increased number of new launches and unique selling points of certain projects.
It is not indicative of a return to a speculative market.
REDAS believes given that the local economy is expected to slow down next year, the measures are untimely.
- CNA/de
devilplate
07-12-11, 23:38
Where blackjack?
The hope of foreigners coming in droves r gone overnite! Lol
u probably could buy cheaper
That's kinda true buti rather pay a bit more now than to be slapped with ABSD. If market crashes, I believe all these CMs will ceast.
devilplate
07-12-11, 23:45
That's kinda true buti rather pay a bit more now than to be slapped with ABSD. If market crashes, I believe all these CMs will ceast.
Honestly, will u still rush to buy tonite after knowing the CM? Buyers got between 8-12pm....a gd 4 hrs to buy.....lol....
Honestly, will u still rush to buy tonite after knowing the CM? Buyers got between 8-12pm....a gd 4 hrs to buy.....lol....
I dunno, can't speak for other investors as everyone has diff appetites and beliefs...I don't think I would rush...would go into overseas property instead I think...
From what I am reading here, any dip in price will be short-lived.... too many vultures.
dont forget vultures circle in the air for awhile....wait till victims are lifeless.
you can expect the same....from property vultures
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